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Sarepta Therapeutics and Summit Enter into Exclusive License and Collaboration Agreement

October 4, 2016

WilmerHale client Summit Therapeutics plc and Sarepta Therapeutics announced that they have entered into an exclusive license and collaboration agreement granting Sarepta rights in Europe, as well as in Turkey and the Commonwealth of Independent States, to Summit's utrophin modulator pipeline, including its lead clinical candidate, ezutromid, for the treatment of Duchenne muscular dystrophy. As part of the agreement, Summit receives $40 million upfront, with potential future ezutromid-related milestone payments totaling up to $522 million plus royalties. Sarepta also obtains an option to license Latin American rights to Summit's utrophin modulator pipeline and Summit retains commercialization rights in all other countries. 

The WilmerHale team representing Summit in this transaction included Partners Steve Barrett and Brian Johnson, Senior Associates Mat Trachok and Scott Lunin and Associate Alex Civetta

Read the formal press release announcing the agreement.